Guggenheim Reaffirms “Neutral” Rating for Snap (NYSE:SNAP)

Snap (NYSE:SNAP)‘s stock had its “neutral” rating restated by analysts at Guggenheim in a report released on Wednesday,Benzinga reports.

Other analysts have also recently issued reports about the company. Morgan Stanley boosted their price target on Snap from $6.50 to $8.50 and gave the stock an “equal weight” rating in a report on Monday, July 21st. Wells Fargo & Company boosted their price target on Snap from $8.00 to $11.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 1st. Loop Capital reduced their price target on Snap from $16.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, May 16th. Evercore ISI boosted their price target on Snap from $11.00 to $12.00 and gave the stock an “in-line” rating in a report on Wednesday, August 6th. Finally, Truist Financial cut their price objective on Snap from $11.00 to $10.00 and set a “hold” rating on the stock in a research note on Wednesday, August 6th. Five equities research analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $34.16.

Snap Stock Performance

NYSE:SNAP opened at $7.10 on Wednesday. The stock’s 50-day simple moving average is $8.48 and its 200 day simple moving average is $8.61. Snap has a twelve month low of $6.90 and a twelve month high of $13.28. The firm has a market capitalization of $11.99 billion, a PE ratio of -22.17 and a beta of 0.62. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 1.73.

Snap (NYSE:SNAP) last released its quarterly earnings results on Tuesday, August 5th. The company reported ($0.16) earnings per share for the quarter, hitting the consensus estimate of ($0.16). The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Snap had a negative return on equity of 23.32% and a negative net margin of 9.69%.The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.15) earnings per share. Snap has set its Q3 2025 guidance at EPS. On average, analysts anticipate that Snap will post -0.3 EPS for the current fiscal year.

Insiders Place Their Bets

In other Snap news, insider Ajit Mohan sold 184,287 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $7.18, for a total value of $1,323,180.66. Following the transaction, the insider directly owned 5,492,006 shares of the company’s stock, valued at approximately $39,432,603.08. The trade was a 3.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Derek Andersen sold 60,966 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $7.17, for a total value of $437,126.22. Following the completion of the transaction, the chief financial officer directly owned 3,143,452 shares in the company, valued at approximately $22,538,550.84. This trade represents a 1.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,510,644 shares of company stock valued at $11,688,447 in the last 90 days. Company insiders own 22.68% of the company’s stock.

Hedge Funds Weigh In On Snap

Several institutional investors have recently added to or reduced their stakes in SNAP. The Manufacturers Life Insurance Company lifted its stake in Snap by 1.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 61,365 shares of the company’s stock valued at $661,000 after buying an additional 1,033 shares during the period. Northern Trust Corp lifted its stake in Snap by 11.7% in the fourth quarter. Northern Trust Corp now owns 4,245,811 shares of the company’s stock valued at $45,727,000 after buying an additional 445,952 shares during the period. Schonfeld Strategic Advisors LLC acquired a new position in Snap in the fourth quarter valued at approximately $157,000. AXA S.A. lifted its stake in Snap by 2.9% in the fourth quarter. AXA S.A. now owns 60,706 shares of the company’s stock valued at $654,000 after buying an additional 1,727 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in Snap by 2.4% in the fourth quarter. Ameriprise Financial Inc. now owns 157,118 shares of the company’s stock valued at $1,692,000 after buying an additional 3,710 shares during the period. 47.52% of the stock is owned by institutional investors and hedge funds.

About Snap

Snap Inc operates as a technology company in North America, Europe, and internationally. The company offers Snapchat, a visual messaging application with various tabs, such as camera, visual messaging, snap map, stories, and spotlight that enable people to communicate visually through short videos and images.